Added Roles of an Entrepreneur

November 16, 2018 #ytmallnews 0 Comments

Apart from the above-mentioned roles, there are some specific entrepreneurial roles that a person is supposed to fill up in his duties of an entrepreneur. These are divided into three categories, which are as follows −

Social Roles,

Economic Roles, and

Technological Roles.

Let us now discuss each of them in detail.

Social Roles of Entrepreneur

Creating opportunities for entrepreneurship.

Creating job or employment opportunities in the society.

Engaging in social welfare services of redistributing income and wealth.

Transforming a standard working procedure into a more modern approach.

Economic Roles of Entrepreneur

Bearing the risk of failing in business.

Mobilizing the revenue of the organization properly.

Utilizing human resources in a cost-efficient manner.

Providing channels of further economic growth in the organization.

Technological Roles of Entrepreneur

Changing traditional technology to modern system.

Adapting improved technology to business environment.

Utilization of available technology in the production process.

Developing efficiency and competence in the workforce through technology